The article reports on the decision of new insurers to start offering kidnap and ransom (K&R) insurance as pirate attacks increase. Based on figures from the Piracy Reporting Centre of the International Maritime Bureau in Kuala Lumpur, Malaysia, Somali pirates had hijacked 20 ships and attacked 54 other ships in 2010. It notes that there are new market entrants in the marine K&R insurance market as piracy in Somalia has remained intractable. Underwriter Guillaume Bonnissent cites that there are three or four new players which have entered the K&R market.
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